More airline seats boost visitor arrivals, economy

An updated University of Guam economic report points to an improving economy.

During a presentation, Wednesday at the Hyatt Regency Guam, UOG economics professor Claret Ruane said tourism is not expected to contract as previously forecast. So she says a predicted a minus-1 percent growth rate is now off the table.

"So I'm a little more optimistic, you know our economy hasn't really grown very, very quickly, so as I mentioned if it just stays the same zero percent growth, even if it goes down a little bit, maybe half a percent, I think we are not in major problem," she said. "But that is certainly a revelation."

She attributes the boost in visitor arrivals to an increase in airline seats, especially out of Japan. She warns that visitor safety should be addressed so as not to impact tourism growth. Overall, she's hopeful the government will end the year in the positive.

"I think our tax revenue collections are there, and that's important because if we're spending the same and our tax revenues are increasing, I hope we end up with not a deficit this year, its possible we may run a surplus," Ruane said.

She also said the updated numbers show consumer spending is up, as people have a little more money in their paychecks from the federal tax cuts.

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Police say one person is dead and two others were injured in a three-car collision around 1:30pm on Price Road in Mangilao by Route 10. One female victim was taken to Naval Hospital in Agana Heights; she was a 67-year old woman who died from her injuries.More >>

On the first day of their March session, senators unanimously confirmed several appointments to cabinet positions and government boards including: -Daniel C. Stone: Chief, Guam Fire Department - Daphne Shimizu: Director, Department of Revenue and TaxationMore >>

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Air Transportation Committee chair Senator Telena Nelson is sticking to her decision to withhold the nomination of former Port Authority of Guam chairman Dan Tydingco to the board of directors for the Guam International Airport Authority. Nelson says whilMore >>

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The District Court of Guam welcomed 39 new citizens from China, the Philippines, and South Korea. At a special Women's History Naturalization ceremony, Governor Lou Leon Guerrero spoke to the newest American citizens. She encouraged them to work hard and More >>

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A settlement conference has been scheduled for the ongoing child sex clergy sex abuse cases. According to an order signed by Senior Judge Alex Munson a hearing has been scheduled for March 28 at 8:30 in the morning. All parties to the litigation or a reprMore >>

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The Office of Public Accountability estimates GovGuam lost out on in collecting additional Limited Gaming Tax from the top five non-profit organizations running bingo operations to the tune of $2.6 million during calendar years 2014-2017. In those three yMore >>

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The Bank of Guam Holding Company Board of Directors has announced its Executive Team. Appointed as President and CEO and Vice Chair of the Board is Joaquin Cook. Executive VP and COO is Maria Eugenia Leon Guerrero, and William Leon Guerrero is the new ChaMore >>

The Bank of Guam Holding Company Board of Directors has announced its Executive Team. Appointed as President and CEO and Vice Chair of the Board is Joaquin Cook. Executive VP and COO is Maria Eugenia Leon Guerrero, and William Leon Guerrero is the new ChaMore >>